The most prominent task of a central bank is to conduct _________ policy, which involves changes to interest rates and credit conditions, affecting the amount of borrowing and spending in an economy.

Refer to the scenario above. What will be the difference in the GDP per capita of both countries at the beginning of year 2012?

A) $30.39 B) $99.84 C) $8.99 D) $339.69

Under the gold standard:

A) the United States set the price of gold at $35 per ounce, and other countries then established their exchange rates against the U.S. dollar (e.g., £1 = $5). B) Great Britain and the United States set the price of gold at $35 per ounce and £7 per ounce, and then other countries established their exchange rates against either the British pound or the U.S. dollar. C) all countries pegged the values of their currencies to gold. D) only gold was used to settle international transactions.